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SurveyMonkey Raises $180m from IPO

September 28 2018

SVMK, the parent of DIY survey software company SurveyMonkey, began trading on the Nasdaq stock market this week, pricing 15m shares of its common stock at $12.00 per share and thereby raising $180m.

Zander LurieThe firm filed its IPO at the end of August and the offering is expected to close today. On the first day of trading, the share price soared 67% to nearly $20, although today they have settled back to around $15-16.

SurveyMonkey reported a net loss of $27.2m for the first half of 2018, after a loss of $19.1m in the prior year period. Part of the proceeds from the IPO will be used to pay down debt and meet income tax obligations related to a restricted stock unit (RSU) settlement. Zander Lurie (pictured), CEO of SurveyMonkey, commented: 'We are proud to partner with Nasdaq as we enter our next chapter as a public company'.

Web site: www.surveymonkey.com .

All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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